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BitMEX and BitMart wind down crypto exchange services
BitMEX will end exchange services on Sept. 23, while BitMart’s trading stops Aug. 26 and formal operations end Jan. 31, 2027.
Crypto’s 2026 downturn is driving an industry-wide shakeout, with projects closing and exchange operators retiring products across trading, DeFi, NFTs, and infrastructure, according to CryptoSlate.
The outlet highlights two established exchanges announcing plans to wind down nearly three days apart. BitMEX said on July 22 it will end exchange services on Sept. 23, with new registrations stopping immediately, new positions restricted from Aug. 26, and users able to continue logging in and withdrawing after the trading platform closes.
BitMart followed on July 26 with a longer schedule, with trading set to stop Aug. 26 and formal platform operations due to end Jan. 31, 2027. CryptoSlate notes that different timelines inside boardrooms and on trading screens can leave companies with limited runway after thin revenue, sometimes closing after some market participants have already priced in damage.
Beyond exchanges, CryptoSlate points to other product and corporate wind-down examples, including Balancer Labs citing fallout from a 2025 exploit and a lack of sustainable revenue, Polygon’s zkEVM Mainnet Beta sequencer retirement on July 1 with user migration and claims, and Nifty Gateway’s closure as Gemini shifted NFT support into Gemini Wallet. The piece frames these moves as a test of whether decentralized systems can outlast the companies that incubated them.